The Senate has rejected the $350m loan request of the Kaduna
state, after delaying it consideration for over a year.
The rejection followed the consideration and adoption of the
report of the Senate committee on local and foreign debts chaired
by Senator Shehu Sani (APC,Kaduna).
Sani said the approval of the loan would double the debt profile
of the state from $232m to $532m. He said at the moment, the state
was second in term of debt profile in the country.
Supporting the rejection, Senator Suleiman Othman Hunkuyi
(APC,Kaduna) described it as a misplaced priority.
Also, Senator Danjuma La’ah (PDP, Kaduna) said the loan should
not be approved.
Details soon
The Senate has rejected the $350m loan request of the Kaduna
state, after delaying it consideration for over a year.
The rejection followed the consideration and adoption of the
report of the Senate committee on local and foreign debts chaired
by Senator Shehu Sani (APC,Kaduna).
Sani said the approval of the loan would double the debt profile
of the state from $232m to $532m. He said at the moment, the state
was second in term of debt profile in the country.
Supporting the rejection, Senator Suleiman Othman Hunkuyi
(APC,Kaduna) described it as a misplaced priority.
Also, Senator Danjuma La’ah (PDP, Kaduna) said the loan should
not be approved.
Details soon
Read more https://nairalaw.com/senate-rejects-kaduna-350m-loan/